Patient Lateral Transfer Market Scope
The patient Lateral Transfer market is expected to grow in the future by the high risk of musculoskeletal injuries to caregivers during manual handling of patients and the implementation of regulations to minimize manual patient handling. Moreover, there are a number of factors that affect the growth of the patient lateral transfer market. Some of the key factors include the growing demand for products in hospitals, the development, and advancement of products, and the rise in the global geriatric population. However, the lack of training for caregivers for the efficient operation of patient handling equipment is a key challenge in this market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Stryker Corporation (United States), Hill-Rom Holdings, Inc. (United States), Arjo (Sweden), Handicare (Sweden), Etac Group (Sweden), Sizewise (United States), McAuley Medical, Inc. (United States), Medline Industries Inc. (United States), Samarit Medical AG (Switzerland), Blue Chip Medical,Inc. (United States), Haines Medical Australia (Australia) and Scan Medical Co Inc. (United States) |
CAGR | 9.6% |
"According to AMA, the Global Patient Lateral Transfer market is expected to see growth rate of 9.6% and may see market size of USD448.2 Million by 2030."The growing number of hospitals and healthcare centers demanding patient transferring equipment on a large scale. The enhancement in the technology and easy to handle applications are more attractive to end-user. The companies, therefore, are coming with new innovations and techniques to acquire more market share. There is strong competition between the top leading firms as there are only various manufacturing firms in the market. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Patient Lateral Transfer market throughout the predicted period.
Stryker Corporation (United States), Hill-Rom Holdings, Inc. (United States), Arjo (Sweden), Handicare (Sweden), Etac Group (Sweden), Sizewise (United States), McAuley Medical, Inc. (United States), Medline Industries Inc. (United States), Samarit Medical AG (Switzerland), Blue Chip Medical,Inc. (United States), Haines Medical Australia (Australia) and Scan Medical Co Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are WY’ East Medical Company (United States), GBUK Banana (United States) and Alimed (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Patient Lateral Transfer market by Type , by Application (Hospitals, Ambulatory Surgical Centers and Others) and Region with country level break-up.
On the basis of geography, the market of Patient Lateral Transfer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In Jan 2020, Medline Industries, Inc. is announcing the acquisition of Médi-Sélect, a Quebec City-based medical and dental supplies distributor to join its Medline Canada operations. The all-cash transaction closed on January 9, 2020, and gives Medline Canada the top market share in the Quebec market. and In Mar 2019, Hill-Rom Holdings, Inc. announced that it has entered into a definitive agreement to acquire Voalte, Inc. The acquisition of Voalte accelerates Hill-Rom's leadership in care communications and advances the company's digital and mobile communications platform and capabilities.
In April 2020, Handicare announced that the company had signed an agreement to divest Patient Handling Europe, including all Patient Handling operations outside North America, to Direct Healthcare Group.
The US FDA under medical devices in that product and medical procedures, General Hospital devices and supplies regulates the patient handling ,types of equipment following are some of the are as follows:, The FDA has announced a list of best practices that, when should be followed, can help meet the risks related to patient lifts. Users of patient lifts should:, • Should have the training and understand the working to operate lifts and • Match the lift and patients weight, sling used should be approved for patient handling equipment
Influencing Trend:
Technological Innovation in Patient Lateral Transfer Equipment
Market Growth Drivers:
High Risk of Injuries to Caregivers during the Manual Handling of Patients and Implementation of Regulations to Ensure Safe Patient Handling
Challenges:
Training Is Mandatory According To FDA For Handling Equipment
Restraints:
Lack of Awareness about Patient Handling Equipment
Opportunities:
Growing Demand for Home Healthcare Services and Development and Advancement of Product
Key Target Audience
Hospitals and clinics, Emergency Care units, Industry Investors, Manufacturers, End User Industries, Traders, Distributors, and Suppliers, Government Bodies, Research Organizations and Associations and Industry Bodies